The ADA journey has not necessarily generated excitement in 2023. As with other altcoins, Cardano’s losses have been particularly large this year. But 2023 could once again be a hugely successful year for the network. As in the past, Cardano could emerge stronger from a dip. Is 2023 the year of Cardano (ADA) and should you mint cryptocurrency now?
How has the Cardano (ADA) price moved over the past few months?
The year 2022 has not been particularly kind to Cardano (ADA). The price was able to break above the $3 mark in September 2021. However, in recent months, the bear market has hit hard, resulting in losses of over 90% since the all-time high. Today, the ADA rate is only $0.27.
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While the first half of 2022 brought particularly heavy losses, the price stabilized somewhat in the second half. However, ADA has also recorded further losses over the past 5-6 months. In mid-July, Cardano bottomed below $0.42. Since then, Cardano (ADA) has lost another 30-40%.
Can Cardano recover in 2023?
Those who are active in the market longer are less bothered by losses. Because big drops always mean the ability to buy an innovative token like ADA cheaply. The price of $0.27 may have turned out to be extremely good to buy in a few months.
The trend of heavy price losses in the bear market is well known at Cardano (ADA). During the last bear market, the price of Cardano lost well over 90% of its all-time high, but was able to rise again by a factor of 120 during the last bull market ($0.025 at the low to $3 at the highest). high). high time).
A recovery could well take hold in the coming months. If we look at the last bear market, we see strong price increases in Cardano already in the second year of the bear market, in 2019. At the time, ADA rose from around $0.030 at the 2018 low to almost $0.10 to the mid-2019 high. A repeat of this intermediate increase is highly likely.
Will the ADA rate drop to $1 in 2023?
If we simply apply the price increases seen by the ADA in 2019, the price could also increase by a factor of 3 in 2023. A larger factor is also possible. In fact, we estimate that it is likely that a well-known altcoin like Cardano (ADA) could rise by a factor of 3 to 5 in an extended rally over the coming year.
If this surge occurs, the Cardano (ADA) price could reach a level of $1 during 2023. However, this price could drop further later this year, as it did at the end of 2019. However, you can well speculate on a big increase in 2023 for Cardano.
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